Do I Need an Elder Law Attorney?
Elder law is a vast practice area that involves any legal issue that concerns the elderly population. This applies to people dealing with scenarios like preparing for retirement, caring for a loved one with Alzheimer’s, or setting up a trust to protect their assets. Hiring an elder law lawyer like one from McCarthy Law, LLC can be beneficial if you need personalized guidance in navigating an issue related to elder law. If you are experiencing the following scenarios, you may want to speak with a reputable elder law attorney to provide you with legal advice.
You Want to Name Beneficiaries
When you have loved ones that you want to pass your assets down, naming them as beneficiaries in your will is critical. Naming beneficiaries is important if you want your estate to bypass the probate process. You may want to include both primary and contingent beneficiaries in case your first choice for some reason may not be able to fulfill their legal obligations. An elder law lawyer can guide you through the steps and inform you how you need to name beneficiaries in your estate plan.
You Want to Set Up an Asset Protection Trust
When you want to reduce the amount of estate taxes you owe, you can look to an elder law lawyer for legal advice. An asset protection trust is an irrevocable trust designed to help you pay lower taxes. A lawyer can evaluate your estate and look for strategies that can be implemented to protect your assets. This is one method you can secure your financial wealth and keep creditors from seizing your assets.
You Are Not Sure Where to Start
Elder law encompasses a wide range of legal topics, and for the average person, it can be a lot of information to digest. It is understandable if you do not know where to start. To avoid making critical mistakes, meeting with an elder law lawyer is a good place to begin. You can explain to them your situation and ask them questions you may have. No topics are off-limits and a lawyer would be happy to spend the time addressing each of your concerns.
When you are readying to secure your future, you want to make sure that you are doing it right away. Reach out to a firm such as McCarthy Law, LLC, and receive trusted legal assistance from an elder law lawyer today.